A novel systemic approach for analysing offshore wind energy implementation

Abstract

Offshore wind energy cumulative installed capacity has been increasing sharply in northern Europe since the early 2000s. This renewable energy could make easier the diversification of the energy mix or the mitigation of global warming. Likewise, its deployment might trigger some positive economic effects, such as job creation, GDP contribution or industrial diversification. For these reasons, it could be advisable to shed light on the main drivers that foster the diffusion of the capacity to generate energy from offshore wind.The main aim of this paper is to propose a comprehensive analytical framework of the main drivers behind the deployment of this renewable energy in the leading global markets. The methodological approach consists of descriptive studies and the proposal of a regression specification (country fixed-effect panel model) with a list of factors relating to offshore wind industry classified into three relevant groups.This proposed analysis represents a step ahead from traditional approaches, because it facilitates a systemic analysis of the main policy and market factors, as well as technological and natural drivers behind the deployment of this renewable energy. In addition, as another novelty, the analytical framework takes into account the specific sectoral stage of development and country heterogeneity.